The company was formed in the preceding year and since then it is continuously making a positive impact in the area of Social audit. Dr. P.C Jain, Chairperson on the occasion of first AGM, addressing the members and stakeholders said, “The Institute of Social Auditors of India has been incorporated to carry out the functions of a Self-Regulatory Organization under the aegis of ICAI and is the leading institution for regulation and development of Social Auditors in an independent and transparent manner sub-serving the public interest and also to protect the interest of various stakeholders in the social audit process in a judicious and optimal manner.”

On October 7, 2022, The Institute of Chartered Accountants of India (ICAI) formed a Section 8 company – “Institute of Social Auditors of India (ISAI)”, with a prime objective to produce independent, ethical and world-class social auditors’ profession responding to needs and expectations of the stakeholders.

On this occasion CA. Aniket Sunil Talati, President ICAI & Director, ISAI said, “ISAI aims to become not only the largest but truly the best globally recognised Institute of Social Auditors with an objective to create a positive impact on the society”

During the meeting, CA. Ranjeet Kumar Agarwal, Vice- President ICAI & Director, ISAI appreciated the increasing numbers of Social Auditors registered/enrolled with ISAI and ensured better opportunities to the members of ISAI.

Aligning with the sustainable development goals, ISAI has earlier issued 16 audit standards on social audits, making India the first country in the world to have social impact assessment standards. These social audit standards (SAS) will provide the social auditor with the

necessary guidance about independent assurance engagement on the impact assessment, including the audit steps and procedures that should be applied while carrying out social audits. For more info the website of ISAI can be accessed at http://isai.ca.in/.

ISAI also conducts an Online Training Course on “NISM Series XXIII: Social Auditors Certification Examination” to prepare the members of ICAI for the “NISM Series XXIII: Social Auditors Certification Examination”. After qualifying for the NISM Series-XXIII: Social Auditors Certification Examination, the applicant is required to enroll with the ISAI on a separate registration portal http://registration.isai.ca.in.

Till date ISAI has enrolled/registered 426 members out of which 376 members are qualified Chartered Accountants, 23 members are qualified Company Secretary, and 3 members are Cost Accountants. Also, ISAI has registered 24 members having qualifications other than CA/CS/CWA after following the due process of verifying their years of relevant work experience in the development sector.